[Ben]

Some people are open about their financial situation, some are not.

Some will tell you how much they make, and what their net worth is, but most will keep this info tight to their chest and hidden from prying eyes.

Some post such details online in blogs and forums in somewhat voyeuristic fashion, but usually the author's identity remains obscure or unknown.

For those with low salaries and little assets, perhaps it's a source of embarrassment to admit you have less than the Jones' across the street.
For those with higher salaries and decent assets, who wants to be a source of envy for family, friends, neighbours, and workmates?

Do you talk about your salary and net worth?
If yes, to whom, and why?
If no, why not?

 

[michika]

Yes, I probably would, however it depends on the setting. However I do not because it is considered to be very gauche in my family, and an inappropriate topic at any time. I think it skewed my impression of money, and its associated mysteries growing up. The only people I would not openly discuss it with are people on my partner's side of the family as they use information such as that negatively. Somehow our monthly mortgage amount got out to them and now we never hear the end of it.

I selectively talk about it with friends however many of us are in very different places. I have a friend who lives off her parents, one who is doing quite well by marriage/engagement, and one who is getting by on her own. Overall though I think there is too little talk going on about it in general. I understand the embarassment angle, as I feel it. I made very little last year and I am embarassed to talk about that as many people seem to link self-worth with net-worth, or income. t

I have a small salary and very little in assets, and I'm not embarassed about it, I just find that sometimes there is resistance in talking about it. Sometimes the resistance is saying "you should be ashamed" and sometimes its that condesending "good for you" attitude. My partner however is in a considerably higher place then I am salary-wise. He doesn't like to talk about it because he doesn't understand it, and because it frequently leeds to inter personal/familial conflict.

All-in-all it depends on the attitude people have towards money, and if its a frank and honest conversation then I have no problems with it. However, when it appears that value judgements are being made in relation to the information then I draw the line and will only discuss such things in terms of generailities and not specifics.

 

[FrugalTrader]

Some people are open about their financial situation, some are not.

Some will tell you how much they make, and what their net worth is, but most will keep this info tight to their chest and hidden from prying eyes.

Some post such details online in blogs and forums in somewhat voyeuristic fashion, but usually the author's identity remains obscure or unknown.

For those with low salaries and little assets, perhaps it's a source of embarrassment to admit you have less than the Jones' across the street.
For those with higher salaries and decent assets, who wants to be a source of envy for family, friends, neighbours, and workmates?

Do you talk about your salary and net worth?
If yes, to whom, and why?
If no, why not?

Money can be a very emotional/sensitive topic, which is why most people just don't talk about it. I'm very open with my finances on MDJ, but like you mentioned, i'm anonymous. In person, i'm more reserved when talking about money as I know most people aren't comfortable with the topic.

 

[CanadianCapitalist]

Do you talk about your salary and net worth?
If yes, to whom, and why?
If no, why not?

First, I'm not exactly anonymous, so I don't reveal what we make and what we have in dollars and cents. Besides, I always wonder if individual net worth and income / expenses have much meaning to most discussions we have. If I talk about how I lower investment expenses or save money, readers might employ it profitably; net worth and income, not so much.

 

[ethos1]

Some people are open about their financial situation, some are not.


Do you talk about your salary and net worth?
If yes, to whom, and why?
If no, why not?

Besides yourself, IMO, there are only two lots of folks that should or do know about an individuals financial situation (deep & dirty)

The CRA & the banker when you're in need of a loan

Outside of that the truth lies within and maybe some will not dilvulge this kind of information to their life partner

In my personal situation - its the CRA, Bank & spouse who are the only three that know the truth

In cyberspace you can fabricate anything in voyeuristic fashion or give the true picture - who is to know

I do not think folks on this forum would snicker or make fun or make weird remarks or statements of the nature what michika eluded to about the level of assets, income or net worth someone has

Money is a personal thing - like love

Everyone had to start somewhere - usually at the bottom, well at least I did 41 years ago.

Sharing of ideas as well as dialogue is a good thing, everyoone can learn something, that I believe is why most post here

 

[lazy cdn]

Yes, I probably would, however it depends on the setting. However I do not because it is considered to be very gauche in my family, and an inappropriate topic at any time. I think it skewed my impression of money, and its associated mysteries growing up. The only people I would not openly discuss it with are people on my partner's side of the family as they use information such as that negatively. Somehow our monthly mortgage amount got out to them and now we never hear the end of it.

I selectively talk about it with friends however many of us are in very different places. I have a friend who lives off her parents, one who is doing quite well by marriage/engagement, and one who is getting by on her own. Overall though I think there is too little talk going on about it in general. I understand the embarassment angle, as I feel it. I made very little last year and I am embarassed to talk about that as many people seem to link self-worth with net-worth, or income. t

I have a small salary and very little in assets, and I'm not embarassed about it, I just find that sometimes there is resistance in talking about it. Sometimes the resistance is saying "you should be ashamed" and sometimes its that condesending "good for you" attitude. My partner however is in a considerably higher place then I am salary-wise. He doesn't like to talk about it because he doesn't understand it, and because it frequently leeds to inter personal/familial conflict.

All-in-all it depends on the attitude people have towards money, and if its a frank and honest conversation then I have no problems with it. However, when it appears that value judgements are being made in relation to the information then I draw the line and will only discuss such things in terms of generailities and not specifics.

i am okay with those that talk about thier net worth ....... as long as they buy the beer.

 

[michika]

I find this environment to be very kind, honest and forthcoming, at least in the short while I've been here! There don't seem to be any value-judgements being passed here, and I think thats one of the best things going for this board.

I do though tend to keep certain things to myself, the value of my home, the true number of my debt, etc. Sometimes though I don't get as much out of hearing/seeing someone else's numbers as I do hearing the reasoning behind them, the explanation for a particular decision over another, etc. I think there is more value in the story behind the numbers then the actual numbers themselves.

Its more beneficial for me to understand how you calculate net worth, as in the actual formula then it is to see what someone's particular numbers are. Its like having a physical example to work with. Reminds me of being in math class in highschool...

 

[mfd]

I'm very open with my finances. I haven't mentioned my salary on my blog because I'm in some what of a position of authority and some people at work know about the blog. As side from that I discuss this openly with friends and family which is something I've always done....even when I made minimum wage. I like to compare not for bragging rights but in hopes that I can spur on some conversation and get ideas to better manage my finances.

 

[ethos1]

I find this environment to be very kind, honest and forthcoming, at least in the short while I've been here! There don't seem to be any value-judgements being passed here, and I think thats one of the best things going for this board.

Its more beneficial for me to understand how you calculate net worth, as in the actual formula then it is to see what someone's particular numbers are. Its like having a physical example to work with. Reminds me of being in math class in highschool...

try this calcualtor to see if it helps you

http://www.cmhc-schl.gc.ca/en/co/buho/hostst/wosh_002.cfm?renderforprint=1

http://cgi.money.cnn.com/tools/networth/networth.html

 

[Ben]

I'm very open with my finances. I haven't mentioned my salary on my blog because I'm in some what of a position of authority and some people at work know about the blog. As side from that I discuss this openly with friends and family which is something I've always done....even when I made minimum wage. I like to compare not for bragging rights but in hopes that I can spur on some conversation and get ideas to better manage my finances.

Agree that net worth is much less politically sensitive than salary, especially when your identity is known by others at work. Still, I can't see myself sharing net worth information openly. I also like to spur on conversation with others where I can. However, I don't think that revelation of net worth is a necessary condition to spur on that conversation, for me anyway.

 

[Sampson]

I find it really depends. It is such a charged issue and every person has a different opinion.

Personally, I share some things with some and not with others - including salary, net worth etc.

You never know whether some one with be envious, jealous, or look down on you when you divulge the info.

 

[Maltese]

My family doesn't have a clue what I earn - just that my house is paid off. My salary isn't high compared to many on this board but I do make double what my sister does. I feel bad for her so have refrained from rubbing it in that she is poorly paid at a US university even though she has a degree and is an excellent worker.

With my friends though money is often a topic because a lot of us are thinking about retirement but don't have enough money yet to do so. Many of us work together and know each others' job classifications so know the salaries. Net worth though is not discussed in terms of actual dollars but we know whose houses and cars are paid for and whose aren't and who contributes to RSPs/Savings and who doesn't.

 

[blackjacques]

Be Careful Who You Share Your Personal Info With

I made the mistake of sharing too much information with my brother-in-law, who was supposedly a financial planner. He used that intimate knowledge of my finances to con me out of $30,000. I have been suing him for the past 5 years. While I have recouped $18,000, I spent most of it on legal fees!

Rob

 

[mfd]

I made the mistake of sharing too much information with my brother-in-law, who was supposedly a financial planner. He used that intimate knowledge of my finances to con me out of $30,000. I have been suing him for the past 5 years. While I have recouped $18,000, I spent most of it on legal fees!

Rob

I think a baseball bat is the best way to resolve problems like that.

 

[CanadianCapitalist]

I think a baseball bat is the best way to resolve problems like that.

MFD, I think you made that comment in jest. I don't think law enforcement takes a benign view of vigilante justice.

 

[mfd]

MFD, I think you made that comment in jest. I don't think law enforcement takes a benign view of vigilante justice.

probably but part of the issue for me is that its a family member. When dealing with a stranger you have some expectation that something like that could happen. With family you let down your guard which adds some insult to injury.

 

[Kathryn]

Money can be a very emotional/sensitive topic, which is why most people just don't talk about it. I'm very open with my finances on MDJ, but like you mentioned, i'm anonymous. In person, i'm more reserved when talking about money as I know most people aren't comfortable with the topic.

Same here. I don't talk about it with people I know in real life.

 

[stardancer]

I live in a small town where gossip can travel faster than the speed of light. So I am very careful in what information I reveal. As I work in the tax business seasonally, I also see what others live on. So I am extremely careful about confidentiality.

I don't talk specific numbers to family/friends but am always willing to share ideas or give general information if asked. I was very surprised when my brother this year asked me to check out their tax returns as they had to pay over $5000. I did and gave my opinion and some suggestions. In the meantime, I haven't even talked to my husband about the figures I saw. Basically, their finances are not my business, unless they ask for help, and then, they are my business only to the extent of the request.

 

[markievicz]

I really can't imagine too many (non moneygeek blogging) situations where either would come up. In my experience most people aren't very interested in one's net worth - a real boring conversation stopper - and only interested in salaries in the mildly nosy sense. Except at work of course, where the merest hint of salary info charges the air bigtime.

 

[Mintycake]

Not really. I had a co-worker once outright ask me what my bonus was. I told her it was none of her business.

I discuss some of it with my father but that is also because he works on my taxes with me so he knows what I am making. I also discussed the purchase of my first house with him. He wouldn't talk about it with anyone though.

I don't dare let people know my net worth outside of that. It's nobody's business and I think if people knew it would breed resentment - never mind that I got there by working my tail off and being frugal.